LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP increased its holdings in LGI Homes by 180.7%, bringing their total shares to 7,350 worth approximately $489,000.
• Institutional investors own 84.89% of LGI Homes' stock, with notable increases in holdings from several firms such as Sterling Capital Management and NBC Securities.
• The company's recent quarterly earnings report showed an Earnings Per Share (EPS) of $1.36, exceeding estimates, but revenue was down 19.8% year-over-year at $483.49 million.

Aigen Investment Management LP raised its position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 180.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,350 shares of the financial services provider's stock after purchasing an additional 4,732 shares during the quarter. Aigen Investment Management LP's holdings in LGI Homes were worth $489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of LGI Homes by 213.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider's stock worth $680,000 after purchasing an additional 6,970 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock worth $59,000 after buying an additional 609 shares in the last quarter. Northern Trust Corp grew its position in LGI Homes by 11.5% during the 4th quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider's stock worth $19,628,000 after acquiring an additional 22,615 shares during the last quarter. Janney Montgomery Scott LLC grew its position in LGI Homes by 22.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,406 shares of the financial services provider's stock worth $226,000 after acquiring an additional 623 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its position in LGI Homes by 15.0% in the 1st quarter. Tributary Capital Management LLC now owns 215,556 shares of the financial services provider's stock valued at $14,328,000 after buying an additional 28,095 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on LGIH shares. Citigroup reaffirmed an "outperform" rating on shares of LGI Homes in a research note on Thursday, August 7th. Wedbush reissued a "neutral" rating and issued a $93.00 price target on shares of LGI Homes in a research note on Monday, July 7th. JPMorgan Chase & Co. decreased their price objective on LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a report on Wednesday, July 9th. Finally, JMP Securities reduced their price target on LGI Homes from $140.00 to $75.00 and set a "market outperform" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $71.67.

LGI Homes Stock Up 0.8%

NASDAQ:LGIH traded up $0.51 on Friday, hitting $65.53. The stock had a trading volume of 551,112 shares, compared to its average volume of 428,629. The firm's fifty day simple moving average is $54.41 and its two-hundred day simple moving average is $62.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. LGI Homes, Inc. has a 1 year low of $47.17 and a 1 year high of $125.83. The stock has a market cap of $1.51 billion, a P/E ratio of 9.88 and a beta of 1.69.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.15. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company had revenue of $483.49 million during the quarter, compared to the consensus estimate of $546.96 million. During the same period in the previous year, the firm posted $2.48 EPS. The firm's revenue was down 19.8% compared to the same quarter last year. Analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.